44 Eglin Pky - Fast Food FOR SALE


Fort Walton Beach, FL 32548
$1,635,000 USD
973-632-1386
44 Eglin Pky, Fort Walton Beach, FL for Sale
$1,635,000 USD
Fast Food - FOR SALE
1/12
null | 5.75% Cap Rate

44 Eglin Pky
Fort Walton Beach, FL 32548


HIGHLIGHTS

  • 14 Years Remaining on 15-year ground lease with zero landlord responsibilities | 10% rent increases every 5 years
  • The Landlord retains ownership of the building and improvements during the lease, therefore, has the exclusive right to claim depreciation benefits
  • Operated and guaranteed by one of the largest 7 Brew franchisees “7 Crew Enterprises”, with 33 locations open and 30+ under development
  • Unique 1640 SF building offering superior intrinsic value compared to 7 Brew’s standard 950 SF modular stand prototype
  • High barriers to entry - Great location on Eglin Parkway NE with 42,500 cars per day
  • The 5-mile trade area is supported by more than 78,000 residents and 34,000 employees | $97,546 is the average household income

OVERVIEW

• The tenant currently has 14 years remaining on their initial lease with 3 (5-Year) options to extend, demonstrating their commitment to the site •. Depreciation Benefits - At all times while this lease is in force and effect, title to the Improvements shall belong Soley to Landlord. Under the terms of the ground lease, the Landlord maintains ownership of the existing building and improvements. As a result, the Landlord retains the right to depreciate the building for tax purposes throughout the lease term • The lease features 10% increases every 5 years during the initial lease and at the beginning of each option, growing NOI and hedging against inflation • The lease is guaranteed by, 7 Crew Enterprises LLC, who currently operates 33+ locations as well as two personal guarantees from the franchisee founders, throughout Texas, Oklahoma, Florida, and Colorada, with another 30+ under development • 7 Brew has 3,000 units sold to franchisee partners • The subject property is a 1,640 SF building featuring a double drive-thru, offering superior intrinsic value compared to 7Brew’s standard 950 SF modular stand prototype • 7 Brew is one of the fastest growing coffee chains in the U.S. with over 350 locations across 32 states

FOR SALE DETAILS

PRICE

$1,635,000 USD

PRICE/SF

$739 USD /SF

CAP RATE

5.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

7 Brew

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2014

SPRINKLERS

-

PARKING SPACES

20

LAND DETAILS

LAND ACRES

0.47 AC

LAND SF

20,473 SF

ZONING

CG

APN/PARCEL ID

13-2S-24-1880-0007-0060

ASK ABOUT THIS PROPERTY

Kyle FantSRS Real Estate PartnersMore Info
973-632-1386

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Kyle FantSRS Real Estate PartnersMore Info
973-632-1386

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.